Jul 15, 2024 | AI

Today Thomson Reuters launched CoCounsel Drafting, an end-to-end drafting solution that streamlines and improves the drafting process for legal professionals within Microsoft Word. It’s the latest set of capabilities available for CoCounsel, the first professional-grade GenAI assistant from Thomson Reuters.

With CoCounsel Drafting, users can easily and quickly move through the phases of contract creation. The solution allows them to find the best starting point from their own databases or Practical Law templates, use content from Practical Law alongside their legal department’s or firm’s contract repository to draft or revise clauses, automate deviation analysis using Practical Law contract playbooks, and correct common drafting errors. This solution uses AI to refine and review documents, producing more accurate, higher-quality work – without leaving Microsoft Word.

“Many of our attorneys – at various stages in their careers – are already using CoCounsel Drafting. Its seamless Microsoft Word integration means they can begin using it with little training and begin realizing ROI almost immediately,” said Joshua R. Driskell, managing partner at Lagerlof LLP. “Based on our team’s experiences, I know using this tool will save an attorney at least one to two hours overall on a project. And the integration of Practical Law with CoCounsel Drafting, both working from within Microsoft Word, allows for a streamlined workflow with fewer distractions.”

“There is substantial time savings when using CoCounsel Drafting,” said J.J. Ball, legal counsel for Systemiq. “When we are operating on an average turnaround time of three to four business days for a response, we can cut that down to one to two business days by utilizing the tool to get drafting work done.”

“Lawyers can often spend a significant amount of their time drafting legal documents and reviewing contracts, and based on feedback in our beta testing, CoCounsel Drafting substantially reduces the amount of time spent drafting,” said Jake Heller, head of Product, CoCounsel, Thomson Reuters. “With CoCounsel’s new drafting capabilities, customers get the benefit of simpler, more efficient processes that increase productivity, streamline drafting, and save huge amounts of time, all without compromising quality. Bringing CoCounsel’s technology to drafting will tackle problems no other solution can.”

CoCounsel Drafting is the most recent milestone in the Thomson Reuters vision to provide every professional it serves with a generative AI assistant. For more information on CoCounsel Drafting, read the press release or visit this site.